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Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: burly on March 10, 2013, 11:50:57 AM

Title: HSA Contribution AFTER filing FTR
Post by: burly on March 10, 2013, 11:50:57 AM

Hello,

I'm trying to figure out the ins and outs of this process....

I ended up adding an additional $2k to our HSA and posted it to 'prior year'. However, I have already filed my taxes. Do I need to submit a 1040x? to get the extra $500 refund? OR, does it apply to next year?

If it is this year, what forms do I need to submit along with the 1040x? From what I can tell, I should receive a 5498-SA by May, but that is just for my records.

Please advise!

Thanks!

Title: Re: HSA Contribution AFTER filing FTR
Post by: the fixer on March 10, 2013, 03:02:40 PM

Quote from: nathanc on March 10, 2013, 11:50:57 AM

Hello,

I'm trying to figure out the ins and outs of this process....

I ended up adding an additional $2k to our HSA and posted it to 'prior year'. However, I have already filed my taxes. Do I need to submit a 1040x? to get the extra $500 refund? OR, does it apply to next year?

If it is this year, what forms do I need to submit along with the 1040x? From what I can tell, I should receive a 5498-SA by May, but that is just for my records.

Please advise!

Thanks!

I think you just have to file a 1040X, and explain the situation where it says on the form. I had to file a 1040X once, years ago, when a statement I wasn't expecting showed up after I filed. It wasn't a big deal.

But your best bet is to ask a tax professional in order to play it safe. The amount you pay for the service would be a small fraction of the $500 refund you'd get.